Rush Trampoline Park opened in CressexRush opened its doors in
December and has now welcomed over 15,000 people to its first ever
UK Trampoline Park. The 30,000 sq ft warehouse has been completely
refitted to provide trampolines, a foam pit, coffee shop and other
activities.
Chandler Garvey identified Rush as a prospective tenant for the
warehouse before it came to the market and this sort of ‘off
market’ deal is a good example of the market intelligence we use to
benefit our clients.
Martin Somers – Head of Agency Department at Chandler GarveyLast
year, I joined Chandler Garvey as Divisional Director. Chandler
Garvey have been active agents in the High Wycombe area since 1979
so have in-depth knowledge and experience in this town and are
based in Castle Street in the town centre.
During the last 16 years of commercial property deals and
acquisitions I have assisted many Landlords and tenants on Cressex
and Sands, including letting 43,000 sqft to CTV in 2014 and
acquiring over 20,000 sqft for TSI on Stirling Road. Chandler
Garvey and I have dealt with a large majority of units on the
estates over the years.
Along with agency disposals of leasehold and freehold
properties, we also specialise in pro-active acquisition work,
where we act on behalf of the tenant to negotiate on a suitable
property. We cover the whole search process, which can sometimes
unearth ‘off the
market’ opportunities, which tenants searching on their own
would not have found.
I would be delighted to hear from old and new clients alike.
Please feel free to call me on my mobile – 07825 395939
Inside:Read on to find out more news including
- Some rents have doubled on Cressex!
- Deals done and availability
- Can’t find the right property?
- Taking a break?
CRESSEX AND SANDSNewsflash FEBRUARY 2016
High Wycombe 01494 446612www.chandlergarvey.com
New Rush Trampoline Park which opened in December 2015.
Some rents have doubled on Cressex!In the 2008/09 downturn,
several Cressex occupiers were able to take advantage of the lack
of interest in taking office and industrial space on Cressex. New
office space was available at £5 psf and non prime industrial could
have been acquired for £4-5 psf.
Office rents on Cressex are now at £10-12.50 psf and expected to
rise again shortly due to the lack of quality office space in the
area. This is mainly due to the take up of the government
initiative to change offices to residential without requiring
planning permission, under Permitted Development Rights.
Industrial space has been letting at £9.50 psf for prime units
and is expected to rise again this year. Even the non prime space
is around £7 psf and again, the lack of supply will mean rents
probably increasing over the next 12 months. Tenants who took
advantage of low rents during the recession could be facing
significant increases at rent review or lease renewal.
Wycombe’s small industrial unit shortageThe last development of
small units on Cressex was back in 2004 when the Network 4
development was built on Lincoln Road. 12 years later and demand
for quality small units is strong but availability of units is
probably at a long term low in High Wycombe.
The knock on implications for local businesses could lead to
1. Having to leave more time to plan for a property move, even
12 months may not be unusual soon
2. Having to look at neighbouring towns such as Stokenchurch,
Princes Risborough and Thame with the subsequent staffing
issues.
3. Increased rents due to high demand and shortage of
supply.
We would advise registering your details with us well in advance
so that we can email new properties arriving on the market. This
will also help you to gauge the current rental levels.
Can’t find the right property? We frequently see companies
having to make significant compromises when choosing their next
commercial property. What they need is not on the market at the
time they require it.
With the shortage of property, it is also essential to pitch
your offer at the right level to secure the next unit for the
company.
Chandler Garvey are able to offer a property acquisition service
covering all aspects of acquisition including:
1. Finding suitable properties, some often not even on the open
market.
2. Negotiating the most attractive financial deal and lease
package for our clients.
Speak to Martin Somers on 07825 395939 to discuss your
requirement, or request a copy of our Acquisition Service
brochure.
Taking a break?Less than 50% of break clauses are ever
implemented. If you negotiated a break clause on your lease, do you
know when the break is and how many months notice you need to
activate that break? Break clauses give you the opportunity to
re-evaluate whether your building works for you and whether another
building would be more efficient.
We are always happy to check your lease to help you confirm
these details. If you miss the deadline to activate your break
clause then you will have to remain in the property until the next
break clause, or your lease expires, subject to rights to assign or
sublet.
Latest News• Wycombe Sports Centre and
Park & Ride now open
• Rush Trampoline Park opened in December 2015 and have received
over 15,000 visitors.
• New Waitrose store opens on Thursday 8th March
High Wycombe 01494 446612www.chandlergarvey.com
AVAILABLE
Units 1-3 Hillbottom Road
AVAILABLE
Anglo Office Park1.023 – 4,023 sq ft offices
UNDER OFFER
Unit 4 Hillbottom Road
AVAILABLE
LET
Unit L Castle Estate
UNDER OFFER
Part L Castle Estate10,000 sq ft warehouse
LET
Lexmark Warehouse
AVAILABLE
9 York Way 1,295 sq ft offices
LET
Unit H Progress Road
UNDER OFFER
Stuart House19,874 sq ft 50/50 unit
Lincolns Inn Office Village928-4,790 sq ft offices
CRESSEX AND SANDSNewsflash
High Wycombe 01494 446612www.chandlergarvey.com
Michael [email protected]
07899 790040Michael Garvey joined the firm in 2004 as a
Director. He has worked in the Greater Thames Valley region since
the late 1980’s.
In recent years, Michael has undertaken a lot of acquisition
work for occupiers across a range of property sectors and has been
able to use the skills acquired over many years to assist companies
with relocation or with opening new ventures.
Michael plays an active role in the business community. He is
Vice Chair and Non-Executive Director of Buckinghamshire Business
First, a Board Member of the Buckinghamshire (Thames Valley) Local
Enterprise Partnership, Director of Buckinghamshire Advantage and
Joint Chair of the Connected Counties broadband delivery board.
Chandler Garvey rebranded in 2015 and the adjacent image, taken
from our new website, shows that we don’t take ourselves too
seriously. However, we are absolutely focused on delivering a first
class service for our clients. We have been established in High
Wycombe since 1979.
Follow us on twitter @ChandlerGarvey
Martin [email protected]
07825 395939Martin joined the firm last year and now heads up
the agency department covering the Wycombe and Marlow offices.
Within his 16 years of property experience he
has worked with many of the Cressex and Sands occupiers.
Adrian [email protected]
07827 908928Adrian moved to High Wycombe from Falkirk, Scotland
with an MSc in Real Estate Management & Development to begin
his career as a graduate
commercial surveyor. Adrian has been working with Martin across
a wide range of commercial property since he started at the firm in
2015.
Your High Wycombe Agency Team
